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Capital Advance Program
<br />Instructions for the Preparation of
<br />Mortgage, Deed of Trust,
<br />or Security Deed
<br />20050963'7
<br />U.S. Department of Housing
<br />and Urban Development
<br />Office of Housing
<br />Federal Housing Commissioner
<br />Under Section 202 of the Housing Act of 1959 or Section 811 of the National Affordable Housing Act
<br />OMB Approval No. 2502 -0470
<br />(exp.11 /30/2006)
<br />Public reporting burden forthis collection of information is estimated to average 6 hours per response, including the time for reviewing instructions, searching
<br />existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this
<br />burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the Reports Management Officer,
<br />Paperwork Reduction Project (2502- 0470), Office of Information Technology, U.S. Department of Housing and Urban Development, Washington, D.C. 20410-
<br />3600. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
<br />Do not send this form to the above address.
<br />This information collection is necessary to ensure that viable projects are developed. It is important to obtain information from applicants to assist H U Din determining
<br />if nonprofit organizations initially funded continue to have the financial and administrative capacity needed to develop a project and that the project design meets
<br />the needs of the residents. The Department will use this information to determine if the projects meet statutory requirements, ensuring the continued marketability
<br />of the projects. This information is required in order to obtain benefits. This information is considered non - sensitive and no assurance of confidentiality is provided.
<br />Use the current FHA corporate mortgage, deed of trust, or security deed form applicable to the jurisdiction in which the mortgage premises are located to prepare
<br />the Section 202 or Section 811 mortgage, deed of trust or security deed.
<br />Appropriate modifications will be needed to showthatthe Secretary of Housing and Urban Development is making a capital advance ratherthan insuring a loan and
<br />to delete all references to mortgage insurance. A sample form is shown below and on the following pages showing these changes and others (note especially
<br />paragraphs 10, 19 and 20) pertinent to the special features of the Section 202 or Section 811 program.
<br />Sample Mortgage Form:
<br />This indenture made this 26th
<br />Goodwill Housing II,
<br />Inc.
<br />day of September
<br />20 05 , between Central Nebraska
<br />organized and existing under the laws of Nebrauka L , a corporation
<br />and the United States of America acting by and through the Secretary of Housing and Urban Development, hereinafter referred to as Mortgagee.
<br />Witnesseth: That whereas the Mortgagor is justly indebted to the Mortgagee in the principal (capital advance amount) sum of
<br />Eight Hundred Fifty-Eight Thousand One Hundred Dollars ($ 858,100 ), evidenced by its note of even date
<br />herewith, said principal being payable provided in said note with a final maturity of August 1, 2046 , which note is identified as being
<br />secured hereby by a certificate thereon. Said note and all of its terms are incorporated herein by reference and this conveyance shall secure any
<br />and all extensions thereof, however evidenced.
<br />Now, Therefore, the said Mortgagor, for the better securing of the payment of the said principal sum of money and the performance of the covenants
<br />and agreements herein contained, does by these presents Convey, Mortgage, and Warrant unto the Mortgagee, successors or assigns, the
<br />following- described real estate situate, lying, and being in the See Exhibit A
<br />, in the County of Hall
<br />, and the State of Nebraska , to wit:
<br />Together with all and singular the tenements, hereditaments and appur-
<br />tenances thereunto belonging, and the rents, issues, and profits thereof;
<br />and all apparatus and fixtures of every kind in, or that may be placed in,
<br />any building now or hereafter standing on said land, and also all the
<br />estate, right, title, and interest of the said Mortgagor in and to said
<br />premises; including but not limited to all gas and electric fixtures; all
<br />radiators, heaters, furnaces, heating equipment, steam and hot -water
<br />boilers, stoves and ranges; all elevators and motors; all bathtubs, sinks,
<br />water closets, basins, pipes, faucets, and other plumbing fixtures; all
<br />mantels and cabinets; all refrigerating plants and refrigerators, whether
<br />mechanical or otherwise; all cooking apparatus; all furniture, shades,
<br />awnings, blinds, and other furnishings; all of which apparatus, fixtures,
<br />and equipment, whether affixed to the realty or not, shall be considered
<br />real estate for the purposes hereof; and including all furnishings now or
<br />hereafter attached to or used in and about the building or buildings now
<br />erected or hereafter to be erected on the lands herein described which are
<br />necessary to the complete and comfortable use and occupancy of such
<br />building or buildings for the purposes for which they were or arc to be
<br />erected, and all renewals or replacements thereof or articles in substitu-
<br />tion therefor; together with all building materials and equipment now or
<br />hereafter delivered to said premises and intended to be installed therein;
<br />To Have And To Hold the above - described premises, with the appur-
<br />tenances and fixtures, unto the said Mortgagee, successors and assigns,
<br />forever, for the purposes and uses herein set forth.
<br />And Said Mortgagor covenants and agrees:
<br />1. That it will pay the Mortgage Note at the times and in the manner
<br />provided therein;
<br />2. That it will not permit or suffer the use of any of the property for any
<br />purpose other than the use for which the same was intended at the
<br />time this Mortgage was executed;
<br />3. That the Regulatory Agreement, executed by the Mortgagor and the
<br />Secretary of Housing and Urban Development, which is being
<br />recorded simultaneously herewith, is incorporated in and made a
<br />part of this Mortgage. Upon default under the Regulatory Agree-
<br />ment, the Mortgagee, at his /her option, may declare the whole
<br />indebtedness secured to be due and payable;
<br />4. That all rents, profits and income from the property covered by this
<br />Mortgage arc hereby assigned to the Mortgagee for the purpose of
<br />form HUD-90165-CA (01 /2003)
<br />Previous versions obsolete Page 1 of 4 ref Handbooks 4571.4 & 4571.5
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